Bitcoins have fallen a bit in value recently. Here’s a one month chart:
Back in late January, it was over $102,000/coin, so call it a 20% drop over roughly a month. Beyond noting that this much volatility invalidates any bids it may be making to become a real currency, I shall withhold any speculations. I’ve heard nothing about the cryptocurrencies sponsored by President Trump or his wife, Melania.
But the volatility is a warning. It’s up, it’s down – and Bitcoin isn’t just another investment. Real investments are in going concerns that are creating something of value. The value production of the cryptocurrencies lies in intangibilities, notoriously hard to value, and even harder when they have difficult to measure negative impacts on society.
